Real Estate Management Services LLC Has $14,281,000 Stake in Cousins Properties Inc. (CUZ)
Real Estate Management Services LLC raised its position in Cousins Properties Inc. (NYSE:CUZ) by 9.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,373,200 shares of the real estate investment trust’s stock after buying an additional 115,100 shares during the period. Cousins Properties comprises approximately 2.5% of Real Estate Management Services LLC’s investment portfolio, making the stock its 19th largest position. Real Estate Management Services LLC owned about 0.65% of Cousins Properties worth $14,281,000 at the end of the most recent reporting period.
A number of other hedge funds have also added to or reduced their stakes in the company. Deprince Race & Zollo Inc. acquired a new stake in Cousins Properties during the second quarter worth approximately $30,117,000. Renaissance Technologies LLC raised its stake in Cousins Properties by 1,076.4% in the first quarter. Renaissance Technologies LLC now owns 1,413,119 shares of the real estate investment trust’s stock worth $14,668,000 after buying an additional 1,293,000 shares in the last quarter. Daiwa Securities Group Inc. raised its stake in Cousins Properties by 70.3% in the second quarter. Daiwa Securities Group Inc. now owns 1,557,237 shares of the real estate investment trust’s stock worth $16,195,000 after buying an additional 642,990 shares in the last quarter. Dalton Greiner Hartman Maher & Co. raised its stake in Cousins Properties by 38.2% in the second quarter. Dalton Greiner Hartman Maher & Co. now owns 1,303,783 shares of the real estate investment trust’s stock worth $13,559,000 after buying an additional 360,575 shares in the last quarter. Finally, Bank of Montreal Can acquired a new stake in Cousins Properties during the second quarter worth approximately $3,628,000. 99.72% of the stock is owned by hedge funds and other institutional investors.
Shares of Cousins Properties Inc. (NYSE:CUZ) traded down 2.68% during trading on Monday, hitting $10.16. 1,362,539 shares of the stock traded hands. The firm has a market capitalization of $2.14 billion, a price-to-earnings ratio of 15.35 and a beta of 1.14. Cousins Properties Inc. has a 1-year low of $7.53 and a 1-year high of $11.40. The firm has a 50-day moving average of $10.76 and a 200-day moving average of $10.56.
Cousins Properties (NYSE:CUZ) last issued its quarterly earnings data on Tuesday, July 26th. The real estate investment trust reported $0.21 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by $0.01. The company earned $92.70 million during the quarter, compared to the consensus estimate of $89.52 million. Cousins Properties had a net margin of 37.51% and a return on equity of 8.41%. Cousins Properties’s revenue for the quarter was down 5.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.21 EPS. On average, equities analysts forecast that Cousins Properties Inc. will post $0.86 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 6th. Investors of record on Tuesday, August 23rd were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 3.15%. The ex-dividend date was Friday, August 19th. Cousins Properties’s payout ratio is 47.76%.
CUZ has been the subject of a number of analyst reports. Stifel Nicolaus lowered shares of Cousins Properties from a “hold” rating to a “sell” rating and lowered their target price for the stock from $11.50 to $9.50 in a report on Thursday. They noted that the move was a valuation call. Zacks Investment Research raised shares of Cousins Properties from a “sell” rating to a “hold” rating in a report on Tuesday, June 7th. Finally, Robert W. Baird lowered shares of Cousins Properties from an “outperform” rating to a “neutral” rating and set a $11.00 price target for the company. in a report on Wednesday, August 17th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $10.88.
About Cousins Properties
Cousins Properties Incorporated (Cousins) is a self-administered and self-managed real estate investment trust (REIT). The Company focuses on development, acquisition, leasing and property management. The Company’s investment strategy is to purchase Class A office assets or locate opportunistic development or redevelopment projects in its core markets to which it can add value through relationships, capital, or market expertise.
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